Park Avenue Securities LLC Grows Position in Hubbell Incorporated (NYSE:HUBB)

Park Avenue Securities LLC raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 20.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,583 shares of the industrial products company’s stock after purchasing an additional 443 shares during the quarter. Park Avenue Securities LLC’s holdings in Hubbell were worth $1,082,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in Hubbell during the third quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the third quarter worth about $41,000. Quarry LP purchased a new stake in shares of Hubbell in the second quarter worth about $49,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Hubbell in the third quarter worth about $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.78% of the company’s stock.

Hubbell Trading Up 0.8 %

Shares of HUBB opened at $437.52 on Tuesday. The firm’s 50 day simple moving average is $441.97 and its 200 day simple moving average is $418.17. The company has a market capitalization of $23.48 billion, a P/E ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $322.27 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period last year, the business earned $3.95 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Sell-side analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays increased their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. Finally, Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus target price of $471.50.

About Hubbell

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.